Despite Owing R$ 3.3 Billion, Cuba Wants Brazil to Finance New Investments at Mariel Port

Written by Roberta Souza

Published on 21/04/2024 at 10:52

Updated on 21/04/2024 at 11:01

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Despite The Large Investment, About US$ 638 Million Funded By BNDES And The Construction Carried Out By Odebrecht, The Port Complex Did Not Reach Its Expectations Of Becoming A Key Point In The Cuban Economy

As The Ten-Year Mark Since The Start Of Its Operations Approaches, The Special Zone Of The Port Of Mariel In Cuba Faces A Challenging Scenario. According To Ana Teresa Igarza Martínez, The General Director Of The Area, Approximately Half Of Its Area Of 465 Km² Remains Empty, With Only 44 Companies Operating At Full Capacity Out Of A Potential Of More Than One Hundred. The Hope Of Filling This Void Largely Rests On The Support Of Brazilian President Luiz Inácio Lula Da Silva.

Designed To Receive New Panamax Ships, The Port Of Mariel Has Not Received Any Vessels Of That Size Since Its Inauguration. Despite The Large Investment, About US$ 638 Million Funded By BNDES And The Construction Carried Out By Odebrecht, The Port Complex Did Not Reach Its Expectations Of Becoming A Key Point In The Cuban Economy.

According To BNDES Information To BBC News Brasil, As Of September Last Year, The Updated Debt Of Cuba With The Bank, Including Interest, Reached US$ 520 Million – The Equivalent Of Over R$ 2.5 Billion. Updates This Year, According To Poder360, The Government’s Outstanding Debts With BNDES Projects Accumulate US$ 671.7 Million (R$ 3.3 Billion).

ARTICLE CONTINUES BELOW

The Role Of The Government: Alliance For Cuban Economic Recovery

With Lula In Power, The Cuban Government Sees An Opportunity To Revitalize The Port Of Mariel. Considering Lula As A “Brother” And A Key Ally, Cuba Seeks To Attract Brazilian Investments To The Mariel Development Zone. This Strategy Is Crucial To Face The Economic Challenges Faced By The Island, Including The Escalation Of The American Embargo And The Impacts Of The COVID-19 Pandemic.

However, Relations Between Brazil And Cuba Have Experienced Turbulence In Recent Years, Especially During The Governments Of Dilma Rousseff And Jair Bolsonaro. The National Bank For Economic And Social Development (BNDES) Has Not Renewed Loans For Cuba Since The End Of Dilma’s Government, And The Caribbean Country Went Into Default, Owing More Than US$ 520 Million To The Brazilian Bank.

Cuba: Optimism In The Renegotiation Of The Debt And New Loans From BNDES

Despite These Challenges, Martínez Expresses Optimism Regarding The Future Of Economic Relations Between The Two Countries. With Lula As President, There Is Hope For A Renegotiation Of The Cuban Debt With BNDES And A New Cycle Of Brazilian Investments In Cuba, Especially In The Port Of Mariel.

Amidst One Of The Largest Economic Crises Since The 1959 Revolution, Cuba Seeks The Port Of Mariel As A Source Of Hope For Its Economic Recovery. With Lula’s Support And The Prospect Of A Renegotiation Of The Debt With BNDES, The Port Of Mariel Could Play A Crucial Role In The Future Economic Development Of The Caribbean Island.

10 Projects That BNDES Financed In Other Countries

Port Of Mariel (Cuba)
Hydroelectric Plant Of San Francisco (Ecuador)
Hydroelectric Plant Manduriacu (Ecuador)
Hydroelectric Plant Of Chaglla (Peru)
Metro Of Panama City (Panama)
Madden-Colón Highway (Panama)
Chaco Aqueduct (Argentina)
Burial Of The Sarmiento Railroad (Argentina)
Lines 3 And 4 Of The Caracas Metro (Venezuela)
Second Bridge Over The Orinoco River (Venezuela)

2 Comments

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Orlando Vieira

#3430

21/04/2024 20:29

É evidente que Cuba, que traz tremenda quantidade de dólares ao Brasil, via importação, vai receber mais esse bônus. Afinal, são hermanos! Sague latino… Lá tem dono e aqui, imperador. Que se acha engraçado e dono também, do Brasil. Alguém vai reagir à essa brincadeira?! Ainda tem a Venezuela… Vemos essas coisas acontecerem mas não há uma reação de autoridade constituída qualquer.

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Celso Dalanhol

#3394

21/04/2024 18:48

Nem cobrando 100 dólares de cada abitante não conseguirão pagar

Respond

Despite Owing R$ 3.3 Billion, Cuba Wants Brazil to Finance New Investments at Mariel Port

Despite The Large Investment, About US$ 638 Million Funded By BNDES And The Construction Carried Out By Odebrecht, The Port Complex Did Not Reach Its Expectations Of Becoming A Key Point In The Cuban Economy

The Role Of The Government: Alliance For Cuban Economic Recovery

Cuba: Optimism In The Renegotiation Of The Debt And New Loans From BNDES

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Despite Owing R$ 3.3 Billion, Cuba Wants Brazil to Finance New Investments at Mariel Port

Despite The Large Investment, About US$ 638 Million Funded By BNDES And The Construction Carried Out By Odebrecht, The Port Complex Did Not Reach Its Expectations Of Becoming A Key Point In The Cuban Economy

The Role Of The Government: Alliance For Cuban Economic Recovery

Cuba: Optimism In The Renegotiation Of The Debt And New Loans From BNDES

10 Projects That BNDES Financed In Other Countries

Libya built over 4,000 kilometers of underground pipelines to bring water from the Sahara to coastal cities in a project that the government itself called the Eighth Wonder of the World.

Desert sand, previously discarded for being too smooth for concrete, becomes an ecological brick in the United Arab Emirates, dispensing with Portland cement, curing at room temperature, and attempting to transform dunes useless for construction into raw material for a new arid engineering.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

With 70 tons of rock removed by hand and an 800-year-old abandoned cave, a former businessman transforms a dark shelter into a modern home carved in the heart of the forest.

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Central Bank changes rule that lasted decades and allows dollar and euro accounts in Brazil for exporters and companies with foreign capital, eliminating the need for currency exchange in some transfers starting in October 2026.

The “Chinese invasion” has arrived: BYD already dominates almost 45% of the electric buses registered in Brazil in May 2026, while 80% of the entire electric fleet in the country is concentrated in São Paulo with 1,300 vehicles.

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